Authority, purpose, and scope.

CFR · 2024-01-01 · US · Title 12

(a) (b) (1) Any borrower who obtains purpose credit within the United States, unless the borrower willfully causes the credit to be extended in contravention of Regulations T or U. (2) Any borrower whose permanent residence is outside the United States and who does not obtain or have outstanding, during any calendar year, a total of more than $100,000 in purpose credit obtained outside the United States; and (3) Any borrower who is exempt by Order upon terms and conditions set by the Board.

official document · source cfr-2024 · id 12:§ 224.1